Alcentra Capital (ABDC) Upgraded to “Market Perform” at UBS Group

UBS Group upgraded shares of Alcentra Capital (NASDAQ:ABDC) from an underperform rating to a market perform rating in a report published on Thursday, The Fly reports.

Several other equities analysts have also weighed in on the stock. Rowe lowered shares of Alcentra Capital from an outperform rating to an underperform rating in a research report on Wednesday, November 8th. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $9.50 price objective on shares of Alcentra Capital in a research report on Friday, November 10th. ValuEngine raised shares of Alcentra Capital from a buy rating to a strong-buy rating in a research report on Friday, December 1st. Finally, Raymond James Financial lowered shares of Alcentra Capital from an outperform rating to an underperform rating in a research report on Wednesday, November 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Alcentra Capital presently has an average rating of Hold and a consensus target price of $12.83.

Shares of Alcentra Capital (NASDAQ:ABDC) opened at $8.88 on Thursday. The stock has a market cap of $126.50, a P/E ratio of 18.50 and a beta of 0.62. Alcentra Capital has a 52-week low of $7.00 and a 52-week high of $14.73.

Alcentra Capital (NASDAQ:ABDC) last posted its quarterly earnings results on Monday, November 6th. The asset manager reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. The business had revenue of $7.61 million during the quarter. Alcentra Capital had a negative net margin of 2.25% and a positive return on equity of 11.32%. sell-side analysts anticipate that Alcentra Capital will post 1.29 EPS for the current fiscal year.

Alcentra Capital declared that its Board of Directors has approved a stock repurchase plan on Monday, November 6th that authorizes the company to buyback $2.50 million in outstanding shares. This buyback authorization authorizes the asset manager to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

The business also recently declared a quarterly dividend, which was paid on Thursday, January 4th. Shareholders of record on Friday, December 29th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, December 28th. This represents a $1.00 annualized dividend and a yield of 11.26%. Alcentra Capital’s dividend payout ratio (DPR) is presently 208.33%.

In other Alcentra Capital news, Director Paul J. Echausse sold 10,000 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $7.45, for a total transaction of $74,500.00. Following the transaction, the director now owns 58,946 shares in the company, valued at $439,147.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Steven H. Reiff purchased 6,900 shares of the stock in a transaction on Monday, November 13th. The shares were bought at an average price of $7.23 per share, for a total transaction of $49,887.00. Following the acquisition, the director now owns 35,246 shares of the company’s stock, valued at $254,828.58. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 11,730 shares of company stock worth $83,956. Corporate insiders own 4.96% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Muzinich & Co. Inc. grew its holdings in Alcentra Capital by 34.7% during the second quarter. Muzinich & Co. Inc. now owns 610,164 shares of the asset manager’s stock valued at $8,292,000 after purchasing an additional 157,251 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Alcentra Capital by 45.6% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 242,865 shares of the asset manager’s stock valued at $3,300,000 after purchasing an additional 76,115 shares during the last quarter. Salem Investment Counselors Inc. acquired a new position in Alcentra Capital during the second quarter valued at approximately $646,000. Wasatch Advisors Inc. grew its holdings in Alcentra Capital by 82.9% during the third quarter. Wasatch Advisors Inc. now owns 34,124 shares of the asset manager’s stock valued at $365,000 after purchasing an additional 15,469 shares during the last quarter. Finally, Stephens Inc. AR acquired a new position in Alcentra Capital during the third quarter valued at approximately $253,000. Institutional investors own 31.85% of the company’s stock.

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Alcentra Capital Company Profile

Alcentra Capital Corporation is a specialty finance company that operates as a non-diversified, closed-end management investment company. The Company operates as a business development company and a regulated investment company. It provides customized debt and equity financing solutions to lower middle-market companies, which are companies having annual earnings, before interest, taxes, depreciation and amortization of between $5 million and $15 million, and/or revenues of between $10 million and $100 million.

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